Trump demands India withdrawal of retaliatory tariffs

President Donald Trump’s remarks could further worsen a trade row that has led to tit-for-tat tariffs from India and the US and created an unease over the depth of their security alliance. (Getty Images/AFP)
Updated 27 June 2019
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Trump demands India withdrawal of retaliatory tariffs

  • India slapped higher tariffs on 28 US products following Washington’s withdrawal this month of key trade privileges for New Delhi

NEW DELHI: US President Donald Trump on Thursday asked India to withdraw retaliatory tariffs that New Delhi imposed this month, calling the duties “unacceptable.”
India slapped higher tariffs on 28 US products following Washington’s withdrawal this month of key trade privileges for New Delhi.
“I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high tariffs against the United States, just recently increased the tariffs even further,” Trump said on Twitter.
“This is unacceptable and the tariffs must be withdrawn!” said Trump, who will meet Modi at this week’s G20 summit in Japan.


India’s trade ministry did not immediately respond to a Reuters email seeking comment.
Trump’s remarks could further worsen a trade row that has led to tit-for-tat tariffs from India and the United States and created an unease over the depth of their security alliance.
US Secretary of State Mike Pompeo, who was in New Delhi on Wednesday, sought to reduce heightened trade tension with India, promising a renewed focus on negotiating better ties, but giving few specifics of how they would overcome disputes over trade and investment.
Trump scrapped trade privileges for India under the Generalized System of Preferences (GSP), under which New Delhi was the biggest beneficiary that allowed duty-free exports of up to $5.6 billion.
India initially issued an order in June last year to raise import taxes as high as 120 percent on a slew of US items, incensed by Washington’s refusal to exempt it from higher steel and aluminum tariffs.
But New Delhi repeatedly delayed raising tariffs as the two nations engaged in trade talks. Trade between them stood at about $142.1 billion in 2018.

 


Emaar, Beijing Daxing Int’l Airport in deal on $11bn project

Updated 22 July 2019
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Emaar, Beijing Daxing Int’l Airport in deal on $11bn project

DUBAI: Dubai’s Emaar Properties signed an agreement with Beijing Daxing International Airport to implement an $11 billion project that includes residential and leisure facilities, UAE state news agency WAM said on Monday.
The agreement, signed on the sidelines of a state visit by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed, includes the value of five square km of land at the airport.
Emaar will open an office in Beijing on Monday, the statement said.